Aruma Resources Acquires Portfolio of Copper and Uranium Projects

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) increased the size of its portfolio satchel with the acquisition of copper and uranium exploration assets in tier-1 mineral precincts of South Australia and Queensland.

The acquisitions include:

The Wilan IOCG-uranium project in the Olympic Dam precinct in South Australia; and

The Fiery Creek copper and Bortala copper projects in the Mt Isa region of Queensland.

Aruma Resources considers all three projects, being acquired from NHM Holdings (Australia) Pty Ltd to have copper-gold (stratiform and IOCG) discovery potential – along with playa lake and paleochannel uranium targets at the Wilan project.

The company sees the new portfolio additions as pivotal as they will expand its focus into key high-demand commodities, copper and uranium, via a portfolio of high-potential exploration projects in two of Australia’s pre-eminent, active mineral precincts.

“We are excited about the company-changing potential of this acquisition,” Aruma Resources managing director Glenn Grayson said in the company’s ASX announcement.

“In seeking to expand our asset portfolio we have assessed a number of projects against key criteria designed to drive market support for the company and value accretion for shareholders.

“We see the combination of quality exploration asset portfolio in high-demand commodities, located in active tier-1 mineral belts in progressive mining jurisdictions as the clear right-fit for Aruma Resources.

“In tandem with our ongoing focus on our Western Australian assets, we plan to implement targeted field work programs across the new asset portfolio, with a view to defining priority targets and systematically drilling these projects to unlock and maximise their IOCG, uranium and copper potential.

“The company views the ability to acquire this IOCG, uranium and copper prospective asset portfolio at a time of prevailing strength in these commodity markets underpinned by a bullish long term outlook as being potentially transformational, and we look forward to sharing details of our journey to unlock the value of this new asset portfolio in the weeks and months ahead.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE